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2/5/09

Trading Post (contrary edition)


I was chatting with Lucas from the excellent market blog Trend&Value last night. He's a smart marketwatcher and suspected gold had one more push left before fading. Seems about right to me as I watch today unfold. I'm not going to tell you what target he has for the metal (go see his blog for that kind of detail).

Fortuna Silver (FVI.v) up 4.8% at $0.87, and of course the day I say "nowadays there's good trading volume" in the stock is the day the thing dries up. Murphy's Law strikes again. I'm fishing at a couple of cents lower for a trading position here.

Copper sisters FCX and PCU both up 4.5% or so right now. The market likes the idea of PCU snapping up small and cheap things such as FCC.to, and FCX looks like the beneficiary of continued decent institutional support.

Exeter Resources (XRC.v) (XRA) up 1.75% at $2.91. This thing has been pumped to high heaven by Canaccord in the last few weeks. Wendell Zerb, one of the lucky ones that got the free superbeano tour of the South recently c/o XRC, came out with an oh-so-surprising buy reco on the stock and Can'o'corn's pumphouse special (aka David Pescod's Late Edition) has been whacking on this incessantly. Then factor in the Casey self-servers. Then top it all off with drill results for Casipiche that look all yummy and scrummy on the surface and you got yourself a vehicle, boyz. Ugh......Canada's BS brigade doing what they do best.

Coastport Capital (CPP.v) up 11% at $0.05. Since it first got mentioned here at 3c, CPP.v has quietly added 66% on low volumes and zero newsflow. Before the mining law debacle of 2008, this thing was a 15c to 18c stock. I don't own, but I might nibble at a few soon....just a few.

Nadagold (NG) up 3% at U$3.72. Proof if need be that you guys out there will buy anything. I'm amazed that people still fall for this crap sometimes. I remember just a few weeks back mailing somebody and saying that in my opinion they should get out and stay out forever...that was with NG at U$1.90 or so. One cool doubling later to show Otto how silly he is to be logical, and the company with rip-off management that only care for themselves, $15m in debts with locals around Nome and no idea of how to actually produce gold there keeps wowing them with flashy beads and shiny things. It'll all end in tears, y'know. Anyway, I can resist no longer and I'm shorting this dog as of today. ST play. Nuff said.